FXStreet (Córdoba) – The pound is falling on Tuesday against the yen but still remains above weekly lows. GBP/JPY bottomed at 192.75 during the European session and then bounced to the upside, to test the 193.00 handle again.
The pair was unable to break higher and retreated. Currently is approaching 192.00 as it trades with a bearish bias at 192.20/30, 40 pips below the level it closed on Monday.
GBP/JPY technical levels
To the downside immediate support lies at 191.75 (daily low) and then 191.35 (June 29 low) and 190.70. On the opposite direction, the key short-term resistance is the 193.00 area followed by 193.50 and 193.90.
GBP/JPY opened the week with a bearish gap, amid risk aversion. The gap is still open and it would remain like that until price rises near 195.00.
(Market News Provided by FXstreet)